NEW YORK, March 17, 2015 (GLOBE NEWSWIRE) -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Central District of California on behalf of investors who purchased Calavo Growers, Inc. ("Calavo" or the "Company") (Nasdaq:CVGW) securities between March 5, 2012 and January 14, 2015.
Click here to learn about the case: http://docs.wongesq.com/CVGW-Info-Request-Form-613. There is no cost or obligation to you.
The complaint alleges that during the Class Period defendants concealed that: (a) the Company failed to maintain an accurately valued contingent consideration pursuant to its acquisition of Renaissance Food Group, LLC; (b) Calavo overstated its non-cash operating expenses; (c) the Company lacked adequate internal controls over financial reporting; and (d) as a result, the Company's financial statements were materially false and misleading.
On January 15, 2015, Calavo announced it will record a non-cash charge totaling $88.9 million before tax—which the Company will treat as amortization expense—related to the misstatement in its treatment of contingent consideration.
If you suffered a loss in Calavo you have until March 23, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Vincent Wong, Esq. either via email vw@wongesq.com, by telephone at 212.425.1140, or visit http://docs.wongesq.com/CVGW-Info-Request-Form-613.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.